August 20th, 2024
Experiencing a Power of Sale or foreclosure can significantly harm your credit score, leading to long-term financial challenges. Understanding the impact and taking proactive steps to rebuild your credit is essential for recovering from this setback.
jonathan August 20th, 2024
August 13th, 2024
House repossession in Ontario often stems from mortgage defaults or breaches of agreement terms, leading to legal actions like power of sale or foreclosure. Understanding the warning signs and available options can help homeowners take steps to prevent losing their property.
jonathan August 13th, 2024
August 1st, 2024
A notice of sale is issued to a borrower who has defaulted on their mortgage, outlining the total amount due and additional charges. This document is a key part of the power of sale process, which can lead to eviction and the sale of the property unless the borrower takes specific steps to address the default.
jonathan August 1st, 2024
March 30th, 2021
If you are facing the threat of repossession of your property by your lender, it is imperative to try to take the necessary steps to prevent losing your home. Learn more
jonathan March 30th, 2021
March 23rd, 2021
Lenders in Ontario will sometimes, although a rare occurrence, have to deal with mortgages that have fallen into default. When deciding which method will be used to deal with mortgage arrears the term often used is default management. Learn more
jonathan March 23rd, 2021
March 19th, 2021
If an Ontario homeowner is facing a power of sale or foreclosure on their property, steps should be taken to stop the process from carrying out to completion and losing possession of the property. Learn more
jonathan March 19th, 2021
February 25th, 2021
Eviction enforcement was halted in mid-January as part of an emergency declaration by the province to fight the second wave of COVID-19. During this time a stay-at-home order was also issued, restricting all outside travel for non-essential workers. Learn more
jonathan February 25th, 2021
February 23rd, 2021
Despite the high costs associated with owning a home In Ontario, mortgage arrears are still very unusual. Out of the owned properties in the Province, 2,652 properties have fallen into arrears which represent less than 1% (0.11%) of properties where mortgage default has become an issue. Learn more
jonathan February 23rd, 2021
February 22nd, 2021
There are times when Ontario homeowners may have fallen behind in monthly mortgage payments. Financial circumstances may change and the mortgage may fall into arrears.
jonathan February 22nd, 2021
March 3rd, 2015
Bankruptcy is something that affects thousands of people in Ontario every year. Every few years the Ontario Superintendent of Bankruptcy releases a set of detailed statistics about bankruptcies in the province. Every year, about 44000 Ontarians find themselves in a bankruptcy situation. Many leading causes for bankruptcy are personal issues, such as divorce or health […]
jonathan March 3rd, 2015
